After three years of delay, the U.S. Bankruptcy Court for the Eastern District of Kentucky issued an order allowing the sale of the former Ellwood City (Pa.) Medical Center.
The former owner, Americore Holdings, filed for bankruptcy on Dec. 31, 2019. The sale transfers ownership to California-based Pelorus Equity Group, a previous lien holder on the property, and according to its website, a "special provider" of real estate debt financing solutions.
Court-appointed trustee Carol Fox stated that during the hearing, the judge and the parties involved discussed the order that would authorize the sale of all Americore's assets with the center, following approved bid procedures, allow the assumption and assignment of executory contracts and unexpired leases per bid procedures, and granting related relief.